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Eye of Dubai
Business & Money | Sunday 28 April, 2024 11:14 am |
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Retal inks SAR 240M contract with subsidiary for 8 residential buildings in Riyadh

Retal Urban Development Co. signed on April 25 an agreement with its subsidiary, Building Construction Company Limited to develop eight residential buildings in Riyadh at a total value of SAR 240 million, exclusive of taxes (if applicable).

 

 

 

The agreement is valid for 26 months from the date of entry into force, Retal said in a statement to Tadawul, expecting a positive financial impact from the project from 2024-2026.

 

 

 

On the other hand, the real estate developer added that board members Abdul Rahman Al-Jalal and Abdullah Faisal Al-Braikan, CFO Ammar Al-Ghoul, and CEO of Building Construction, Omar Ibrahim Al-Jalal, are related parties to the agreement.

 

 

 

The agreement was sealed without any preferential conditions or benefits.

 

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